SOURCE: NineSigma

NineSigma

May 20, 2013 11:15 ET

Innovation Leader NineSigma Announces Strong Global Growth

Launch of NineSights® Provides New Value-Creation Opportunities for NineSigma Clients, and Helps Transform the Way Innovation Is Practiced

CLEVELAND, OH--(Marketwired - May 20, 2013) -   Bolstered by a game-changing social media platform, a thriving Grand Challenge program, and expansion to the middle market, NineSigma is achieving strong global growth. Today, the company announced a 30 percent increase in revenues in 2012, and a robust first quarter in 2013.

NineSigma is the leading innovation partner to companies worldwide, and helped pioneer the practice of open innovation (OI), a strategy used by the world's most competitive companies. For example, 46 of the companies named to the 2012 Thomson Reuters Top 100 Global Innovators list are NineSigma clients. Through OI, organizations like them reach outside their existing networks for new solutions that will help them develop game-changing products, stay ahead of the competition, or address problems affecting humankind. They rely on NineSigma's proprietary OI methodology for in-depth analysis and insights on their technology space, and to make connections between their needs and solutions that exist within any industry. 

In 2012, NineSigma worked with nearly 200 clients from the public, private and nonprofit sectors, with the strongest growth coming from the oil and gas, pharmaceuticals, and medical device industries. Nearly 40% of NineSigma's clients in 2012 were new, up 6% from 2011, and they represented all parts of the world, from Croatia to China to the U.S. New clients included Agrokor, Enbridge, Deere & Company, Hologic, the State of Ohio, and the Climate Change and Emissions Management (CCEMC) Corporation.

2012 was also the year that NineSigma launched NineSights, the world's first free open innovation social media platform, which empowers organizations of all sizes to use OI to drive growth. Through NineSights, companies can post their technology needs through branded "Innovation Galleries" that are fully managed by NineSigma. Philips, Samsung Display, GE, Goodyear, Kimberly-Clark, Johnson Controls, Georgia-Pacific Chemicals, and Bioastra are among companies with managed innovation galleries. Organizations can also utilize NineSights to "crowdsource" solutions to problems, or gain valuable technology and market insights through industry-specific Expert Panels recruited specifically for the client's needs.

"The launch of NineSights marks an inflection point in NineSigma's growth," said Andy Zynga, CEO of the firm. "Since our founding in 2000, our clients have trusted us with their most strategic innovation needs and challenges. We've helped them envision what they can accomplish by supplementing their capabilities through OI, and developed a set of best practices and a global network to help them get there. NineSights offers our clients a platform for growing this practice by an order of magnitude, and we are working with clients on a daily basis to manage their OI programs."

In addition, NineSights is providing the platform for NineSigma's expanding Grand Challenge program, which galvanizes the world to help solve serious problems affecting humankind. Current programs include the GE NFL Head Health Challenge to diagnose mild traumatic brain injury, and the CCEMC Grand Challenge to convert carbon from a liability to an asset. These initiatives are associated with nearly $100 million in prize money. NineSigma and its clients also recently concluded several other challenges and announced award winners:

  • The International AIDS Vaccine Initiative (IAVI) identified two scientists who will receive a total of $875,000 to develop solutions for generating stable protein complexes, considered critical to an effective AIDS vaccine.
  • Scientists Without Borders, The Sackler Institute for Nutrition Science at the New York Academy of Sciences, and Sight and Life, awarded a total of $25,000 to individuals with promising solutions for biodegradable packaging for nutrients.
  • LAUNCH, a joint initiative of NASA, the US Agency for International Development (USAID), the Department of State, and NIKE, identified ten entrepreneurial organizations whose breakthrough technologies will potentially transform how energy is delivered around the world.

Other milestones in NineSigma's recent evolution include:

  • Opened an office in Seoul, South Korea to support the growing roster of clients there in industries ranging from automotive and electronics to energy and food.
  • Kicked off the OI Practitioners Program in Europe for corporate innovators running OI programs at multinational corporations.
  • Launched a dedicated practice for middle-market companies. In recognition of NineSigma's commitment to this segment, the State of Ohio awarded the company $2 million through its Ohio Third Frontier Open Innovation Incentive (OII) Program. New clients include Elmer's Products, Oatey, Master Chemical Company, Spartan Chemical Company, and Therma-Tru Corp. among many others.
  • Adding Under Armour and Spartan Chemical Company to its Customer Advisory Board that includes innovation leaders from AkzoNobel, Allergan, Anglo American, GE, General Motors, Philips Research, Mast Global, MeadWestvaco, Mondelez, Siemens, Starbucks, and Unilever Research and Development. These executives are helping guide NineSigma as it deepens customer relationships through expanded service offerings.

Journalists who would like more information on NineSigma should contact Dawn Ringel, Warner Communications, 781-449-8456 or dawn@warnerpr.com.

About NineSigma
NineSigma connects organizations with external innovation resources to accelerate innovation in private, public and social sectors. The company provides open innovation services to organizations worldwide, including Kraft Foods, Philips, Siemens, and Unilever, to solve immediate challenges, integrate new knowledge, fill product pipelines, and stay ahead of the competition. Named to the 2012 Inc. 5000 list of fastest-growing private U.S. companies, NineSigma's proprietary process has produced billions of dollars in value for its clients. NineSigma has the largest open global network of solution providers and an extensive database of existing solutions spanning numerous industries and technical disciplines. NineSigma's online innovation community, NineSights®, is the world's first open innovation social media destination, connecting innovators of all sizes with resources and relationships to drive growth. The company is headquartered in Cleveland, Ohio, with offices throughout the world. Learn more at www.ninesigma.com and www.ninesights.com

Contact Information

  • Media Contacts:
    Dawn Ringel
    Warner Communications
    Email Contact
    (781) 449-8456